July 29, 2019 NTN Buzztime, Inc. Signs Extension for 64 Buffalo Wild Wing Franchisee-Owned Restaurants
Extends Entertainment Agreement with Diversified Restaurant Holdings through year end 2020
CARLSBAD, Calif., July 29, 2019, — NTN Buzztime, Inc. (NYSE American: NTN), signed an agreement with Diversified Restaurant Holdings to extend its entertainment services for 64 Buffalo Wild Wing franchises through December 2020.
“Buffalo Wild Wings franchisees understand the draw of Buzztime Entertainment,” said Ram Krishnan, NTN Buzztime CEO. “They know Buzztime helps increase their monthly revenue by attracting a loyal clientele. In fact, during tests when Buzztime was removed from the premises, Buzztime players took their business elsewhere. Therefore, many of the 580 Buffalo Wild Wing franchisees are evaluating continuing their Buzztime subscriptions. Already, one of the largest Buffalo Wild Wing franchise owners, Diversified Restaurant Holdings, extended 64 venues for another year with some locations converting to a mobile only based experience. We hope they are the first of many franchisees to protect their patron experience as well as take advantage of our new mobile and capital light offering.”
“We are excited about both the partnership and the outlook for Buzztime,” Ram continued. “Our summer Trivia for Cash competition is already on pace to exceed the number of games played by 100% vs our previous highest month, and our recent Nielsen study highlights that 7 of 10 players are more likely to choose a venue with Buzztime and visit frequently, to the tune of 3 times over a 4-week period.”
This release contains forward-looking statements that reflect management’s current views of future events and operations, including statements regarding the increase in franchisee revenue from clientele loyalty, the Company’s hope to extend its relationship with Buffalo Wild Wings franchisees, and player engagement. These risks and uncertainties include the risks of unsuccessful execution or launch of products, platforms or brands, risks associated with customer retention and growth plans, the impact of alternative entertainment options and technologies and competitive products, brands, technologies and pricing, adverse economic conditions, the regulatory environment and changes in the law, failure of customer and/or player acceptance or demand for new or existing products, lower market acceptance or appeal of both existing and new products and services by particular demographic groups or audiences as a whole, termination of partnership and contractual relationships and technical problems or outages. Please see NTN Buzztime, Inc.’s recent filings with the Securities and Exchange Commission for information about these and other risks that may affect the Company. All forward-looking statements included in this release are based on information available to us on the date hereof. These statements speak only as of the date hereof and NTN Buzztime, Inc. does not undertake to publicly update or revise any of its forward-looking statements, even if experience or future changes show that the indicated results or events will not be realized.
Buzztime (NYSE American: NTN) delivers interactive entertainment and innovative technology that helps its customers acquire, engage and retain its patrons. Most frequently used in bars and restaurants in North America, the Buzztime tablets, mobile app and technology offer engaging solutions to establishments that have guests who experience dwell time, such as casinos, senior living, and more. Casual dining venues license Buzztime’s customizable solution to differentiate themselves via competitive fun by offering guests trivia, card, sports and arcade games. Buzztime’s platform creates connections among the players and venues and amplifies guests’ positive experiences. Buzztime’s in-venue TV network creates one of the largest digital out of home ad audiences in the US and Canada. Buzztime games have also been recently licensed by other businesses serving other markets. For more information, please visit http://www.buzztime.com or follow us on Facebook or Twitter @buzztime.
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